USDA Food Supply Chain Loan
In September 2021, the United States Department of Agriculture (USDA) allocated a limited amount of federal funds to the USDA Food Supply Chain Guaranteed Loan Program. The goal of this program is to strengthen America's food supply chain by reinvesting and expanding meat and poultry capacity. Other operations may also qualify.
As a designated USDA Multi-State Lender, our USDA team can determine your eligibility for this or other programs, and help you get the funds you need.
What is a USDA Food Supply Chain Loan?
The USDA Food Supply Chain Loan was developed to target and expand the food supply chain infrastructure. Loan proceeds may be used to:
- Purchase and develop land, buildings or infrastructure
- Purchase machinery or equipment
- Cover startup costs, working capital, inventory and supplies
Advantages of this loan include:
- No guarantee fees or renewal fees
- Competitive interest rates
- Longer repayment terms
- Full amortization
- Higher loan amount options
- No geographical constraints within the U.S.
With limited funds availability, it's important to act quickly. Please contact our team to learn more.
Do I Qualify for a USDA Food Supply Chain Loan?
A wide range of food supply chain participants are eligible, including those engaged in, or proposing to engage in aggregating, processing, manufacturing, storing, transporting, wholesaling or distributing food.
While loan eligibility is determined by the USDA, you must work through a lender to apply. Stearns Bank is a USDA Multi-State Lender and can help with this or other loan programs.
The Stearns Bank Difference
- Experienced USDA Multi-State Lender
- Responsive personal support
- Nationwide reach
- Loans approved in days
- Dedicated employee owners
- Full service banking options
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